Ables Iannone Moore & Associates Inc. Invests $39,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Ables Iannone Moore & Associates Inc. purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 273 shares of the wireless technology company’s stock, valued at approximately $39,000.

Several other institutional investors also recently added to or reduced their stakes in QCOM. Cassaday & Co Wealth Management LLC increased its position in QUALCOMM by 1.2% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock worth $831,000 after purchasing an additional 66 shares during the last quarter. Glass Jacobson Investment Advisors llc increased its holdings in shares of QUALCOMM by 6.5% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after buying an additional 68 shares during the last quarter. Chilton Capital Management LLC raised its position in shares of QUALCOMM by 1.9% during the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock valued at $544,000 after buying an additional 70 shares during the period. Means Investment CO. Inc. lifted its holdings in QUALCOMM by 1.2% in the fourth quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock valued at $838,000 after acquiring an additional 71 shares during the last quarter. Finally, Marino Stram & Associates LLC increased its stake in QUALCOMM by 2.5% during the fourth quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock worth $430,000 after acquiring an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the transaction, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Neil Smit sold 3,069 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,185 shares of company stock worth $8,206,875. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on QCOM shares. Citigroup increased their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. KeyCorp boosted their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Evercore ISI initiated coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. Bank of America boosted their target price on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Canaccord Genuity Group raised their price target on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $188.74.

QUALCOMM Trading Up 3.2 %

QCOM opened at $222.22 on Tuesday. The business’s 50-day simple moving average is $188.58 and its 200-day simple moving average is $164.88. The company has a market cap of $248.00 billion, a P/E ratio of 29.87, a PEG ratio of 2.62 and a beta of 1.29. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $222.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.53%. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 45.70%.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.